Goldman Sachs (GS) follows the general market tone while triming 2021 GDP growth forecasts for China.
The US bank recently revised down the growth projections to 7.8% versus 8.2% prior. Details suggest that the Q3 2021 GDP forecast is slashed to 0.0% QoQ.
“We revise down our Q3 real GDP forecast by 3.5pp to 2.3% QoQ vs. 5.8% previously,” said GS in August.
Given the Evergrande fears challenging the market sentiment and China’s GDP outlook, commodities and Antipodeans may fail to cheer the econmic recovery hopes from the West.